ORLANDO, Fla. – This week on “Black Men Sundays,” host Corie Murray interviews Sam Dolciné, a Haitian-American real estate investor and podcaster who interviews other Black investors to share their stories, strategies and successes.
Dolciné founded the Black Real Estate Dialogue podcast in 2019, several years after moving to Los Angeles from Brooklyn, where he grew up. According to his website, Dolciné had become frustrated with the lack of podcasts specifically focused on Black real estate investors. Since taking matters into his own hands, Dolciné’s podcast has won a Plutus Award and was nominated for a Webby among other accolades.
When it comes to accruing generational wealth, many chalk up the best methods to real estate, stocks and life insurance. To this, Dolciné partly agreed.
“In my opinion, I would say real estate is first, but then right behind that, I would put stocks,” Dolciné said. “This opinion is unpopular; in my opinion, the majority of people should not be investing in single stocks. People should invest in index funds. I mean, you set it and forget it, the market grows year over year, so that’s another way to build wealth, and I think a life insurance policy as well. Again, there’s a whole slew of life insurances, but for the everyday person, a term policy could really help your family towards the end of your life. So, I think a combination of those three works.”
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However, you don’t have to be a total finance guru juggling all sorts of plans and portfolios to get started on or even to outright confirm your newfound generational wealth.
Dolciné shared a simple piece of advice that appropriately pertains to a more simple way of going about such things.
“What I like to tell people is that one house can change your life. So, even if somebody bought one house, even if it wasn’t a rental property, even if it was a house they just lived in and they just stayed there, right? You have your assets, and all that stuff organized over time is going to go up in value, and at the very least, whoever’s behind you — whether you have children or not, whatever — whoever you leave your assets to, or your asset to, they’ll at a minimum have a property that has appreciated in value that they can sell and use the money for whatever they need to, or they can rent it out, or they can live in it. So, it doesn’t have to be a crazy amount of things that people do. You really can keep it very simple and you don’t have to be this big real estate mogul. You can have one house. You can never be a landlord and the next generation is going to be set up,” Dolciné said.
Hear the full interview and more in Season 5, Episode 7 of “Black Men Sundays.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.
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